The rebirth of the NFT market

We witnessed a momentary NFT craze last summer that did not last long as the number of users declined in Q4 2020. Recently, NFT has become fashionable again, with institutions trying to gain exposure to this space. For instance, Three Arrows Capital founders launched an NFT fund last month. 

In this research piece, we dissect the on-chain data and look into the latest NFT trend. Note that we did not include any Solana-based NFT collections or marketaplaces in our analysis due to the limitation of existing querying infrastructure.